Agrahyah Technologies raises $1 million in pre-series A funding
MUMBAI: Agrahyah Technologies has closed a pre-series A round of $1 million in funding during first a quarter of 2019 to fuel growth and expansion of its products namely aawaz.com, India’s first and largest audio-on-demand (podcasts) in Hindi.
The equity-based capital has been funded by undisclosed investors, and the company has even on-boarded Ashutosh Ghanekar of ANG Capital as investment bankers to have a professional approach for corporate finance including raising further rounds in immediate near future to accelerate the exponential growth path.
The funding comes at a time when the company is also diversifying into English podcasts through a soon to be launched new product named HFTcafe.com, which is aimed at youth and millennials of India.
aawaz.com, India’s first Hindi non-music audio-on-demand destination is the flagship product by Agrahyah Technologies. It is edging towards 200 hours of high quality, professionally produced audio content and over 2000 long-form reads in Hindi across multiple genres such as devotional, comedy, entertainment, stories, short news, celebrity interviews, and more.
Launched in January 2019, aawaz.com has garnered over 200,000 listeners across the web, Android App, IndusOS app, and third-party distribution endpoints like Airtel, and Ola Play. It continues to grow exponentially while retaining a loyal userbase.
After being bootstrapped by the three co-founders for nearly two years, the company has now raised funds to capitalize on growing consumer demand for podcasts and scripted audio content in Indian languages including Hindi and English. Aawaz.com currently has a sustainable and functional monetization by working with brands to create branded content. The company is also approached by leading OTT players to license and onboard aawaz.com’s rich repertoire of original content on their platforms.
Talking about the capital raised, Agrahyah Technologies co-founder Sreeraman Thiagarajan said, “The bets we placed two years ago to create original content in non-video formats such as podcasts scripted audio shows, and long-form reads in Indian languages are now yielding great results, which is evident from the kind of loyal listeners, we are witnessing. Our strategy remains to create high-quality original content in audio and text & use technology to deliver it seamlessly. We are fortunate to have found like-minded partners in our investors, who are not just funding our growth but are helping create an entirely new category in the Indian internet space and giving us a great opportunity to lead it.”